Parker-Hannifin Co. (PH) To Go Ex-Dividend on February 7th

Parker-Hannifin Co. (NYSE:PH) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors of record on Friday, February 7th will be given a dividend of 1.63 per share by the industrial products company on Friday, March 7th. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, February 7th.

Parker-Hannifin has raised its dividend by an average of 17.1% annually over the last three years. Parker-Hannifin has a payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Parker-Hannifin to earn $29.24 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 22.3%.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $691.23 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock’s 50 day simple moving average is $666.34 and its two-hundred day simple moving average is $632.61. Parker-Hannifin has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The stock has a market cap of $88.97 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 2.90 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, analysts expect that Parker-Hannifin will post 26.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PH has been the subject of several recent research reports. KeyCorp boosted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Mizuho raised their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a report on Thursday, December 12th. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, Argus increased their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $725.06.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.